Thread regarding Fidelity Investments layoffs

July Layoffs - Should I be concerned?

Seems to me, there will be plenty of groups at risk of layoffs. Here is the rule of thumb:

  1. If you are an "I" consistently, then I would be concerned.

  2. PAS is getting hit. SPS will either support WMA, be a PS for 500K or more, or become CMR. PAS service no longer will exist and roll back to HNW. I see an opportunity for management to clean PAS up a bit. Also, they will be additional PAS FC's made from this group.

  3. RIS/RRM is changing quite a bit. If we cannot proactively sell R/Os, that group has to shrink.

  4. FILI sales cannot sell Qualified annuities anymore.

  5. Support specialty groups will become generalist instead of specialists

  6. Training is going national.

  7. Also, SVP's and management that don't have direct reports should be worried.

by Anonymous
| 5236 views | | 11 replies (last July 12, 2017) | Reply
Post ID: @OP+OcQCKBy
Comment! It's anonymous!

11 replies (most recent on top)

What is I? Please enlighten me.

by Anonymous
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Post ID: @2gre+OcQCKBy

I love all the jokes here. Personally, I would welcome such a merciful ending to the misery.

by Anonymous
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Post ID: @1hhq+OcQCKBy

All branches close and JAX and SLC to close. Lol

Cmon... if you're going to try and scare people and have fun at least be slightly believable. I work in Cov and have heard JAX is one of the fastest growing sites we have. Dufus.

by Anonymous
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Post ID: @1qgu+OcQCKBy

This site is just feeding the fire. Slc and Jax gone lol. It's all just hype and BS. I am scared I'm going to lose my job tomorrow but the claims being made are getting silly at this point.

by Icallbs
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Post ID: @1oal+OcQCKBy

Know nothing QA and Systems Analyst on sane pay grade as developers. Architects who haven't coded in decaded. How can this company compete?

by Anonymous
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Post ID: @jcv+OcQCKBy

@fzq I have to agree with you - it's much more about compensation and less about performance. The older you are the more likely you'll be make more money, hence it's more likely that you'll be eliminated. That's the fact.

by Anonymous
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Post ID: @ccd+OcQCKBy

How is this thing getting 200 views in less than 20 minutes? Is everyone on this page right now.

Go back to work folks.

by Anonymous
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Post ID: @yeu+OcQCKBy

I'd say that everyone should be worried - I do not think there is a rule of thumb here...

by Anonymous
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Post ID: @oqq+OcQCKBy

That's just not the case. Many of my coworkers who were encouraged to take the buyout never received an I. It's about trimming the fat. Getting rid of "older" top performers (high earners) in hopes of hiring younger employees at lower wages (commission). Assume there will be a restructuring of pay schedules for new employees and maybe even for those they keep around. Time will tell.

by Anonymous
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Post ID: @fzq+OcQCKBy

Yes

by Anonymous
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Post ID: @hpp+OcQCKBy

Would one "I" in last four years be an issue?

by Anonymous
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Post ID: @yms+OcQCKBy

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